AI Lending Needs Human Oversight At Critical Decisions
Artificial intelligence is increasingly being used across lending, from credit assessment and fraud detection to document processing and customer servicing. But as lenders give AI greater autonomy, questions around explainability, bias, model drift and human accountability are becoming more important.
Tarun Aggarwal, Group Chief Technology Officer, Capri Loans, discusses where AI is making a difference in lending, where rules-based automation still dominates, and why human oversight remains important for high-risk and complex credit decisions.
Balancing AI And Accountability
What parts of lending are genuinely being transformed by AI today, and which are still mostly automation dressed up as AI?
AI is making the biggest difference in credit assessment, risk monitoring and fraud detection through the ability to analyze many data points and recognize trends that could have been missed through conventional approaches. However, there are some applications where automation takes place instead of AI. Document extraction, score workflows, eligibility checks,...
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